haku: @author Lee, M. / yhteensä: 26
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| Tekijä: | Lee, M. Tcha, M. |
| Otsikko: | The color of money: the effects of foreign direct investment on economic growth in transition economies |
| Lehti: | Review of World Economics
2004 : VOL. 140:2, p. 211-229 |
| Asiasana: | Economic growth Foreign investment Total factor productivity Transition economies |
| Kieli: | eng |
| Tiivistelmä: | During the initial phase of transformation to a market economy many of the Eastern European and Baltic countries experienced an initial decline of output. This article explains, both theoretically and empirically, why they experienced negative growth initially, and how some of them started to get over and recorded positive growth recently. As a vehicle to transfer technology and managerial skills to the transition economies, as well as to increase capital work, foreign direct investment (FDI) is regarded important. Production function with a low elasticity of substitution between two inpots is employed to capture the dynamic short-run movement of these economies. Cross-sectional and panel data are utilized to analyze the short-run dynamic movement of equilibrium paths of transformation to a market economy. |
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